Use chart show work on the side if needed Chew Corporation prepares its statement...
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Accounting
Use chart show work on the side if needed
Chew Corporation prepares its statement of cash flows using the indirect method of reporting operating activities. Net income for the 2018 fiscal year was $1,252,000. Depreciation expense of $142,000 was included with operating expenses in the income statement. The following information describes the changes in current assets and liabilities other than cash: Increase in accounts receivable Decrease in inventories Decrease in prepaid expenses Decrease in salaries payable Increase in income taxes payable Cash flows from operating activities: Required: Prepare the cash flows from operating activities for 2018. (Amounts to be deducted should be indicated with a minus sign.) Adjustments for noncash effects: Changes in operating assets and liabilities: Net cash flows from operating activities $ 154,000 110,000 64,000 $ 32,000 46,000 0
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